David Lereah To Leave Realtors and Join Move Inc.

David Lereah will be leaving the National Association of Realtors (NAR) and joining Move Inc in in mid May. According to a press release from the Realtors:

David Lereah, senior vice president and chief economist of the National Association of Realtors(R) for the past seven years, is joining Move Inc. as executive vice president of a new business entity, effective in mid-May.

Move Inc. operates NAR's official Web site, http://www.realtor.com/ and http://www.move.com/.

Not missing a beat, NAR's executive vice president and CEO, Dale Stinton, announced that:

David is an expert on real estate and the economy, and his stature and expertise enhanced NAR's position as the most credible source on economic and policy issues affecting the housing industry in the United States and abroad. We wish him the greatest success in his new endeavor."

Within a few weeks, David Lereah will no longer be working at the National Association of Realtors. Mr. Lereah has lost credibility during the past few years, as he cheered the housing bubble and then called a 'bottom' at least four times. Was he forced to leave because he lost credibility?

Soon, Mr. Lereah will be much less quoted in the mainstream press. Mr. Lereah's reign of half truths, manipulations and cheerleading will soon be over.

In a Reuters article today "One blog, David Lereah Watch, cites passages from Lereah's books and his encouraging words about the housing market and asks him to "admit he cheerleaded this destructive housing bubble."

Update: Mr. Lereah will stay at the NAR "at least through the mid-year meetings, which end on May 19" according to a NAR spokesman.